Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

7. Income Taxes

Income tax benefits attributable to losses from operations in the United States of America was $Nil for the years ended December 31, 2021 and 2020, and differed from the amounts computed by applying the United States of America combined federal and Utah tax rate of 24.91% to pretax losses from operations as a result of the following:

	2021			2020
Income (loss) for the year before income taxes	$	(12,116,448	)	$	(477,596	)
Computed expected tax expense (benefit)	$	(3,018,268	)	$	(118,972	)
Non-deductible expenses		3,102,197			86,519
Change in tax rates		—			—
True up of prior-year provision to statutory tax returns		23,150			(41,753	)
Change in valuation allowance		(107,079	)		74,206
Income tax expense	$	—		$	—

The Company’s deferred tax assets that have not been recognized are as follows:

Start-up costs	$	196,402		$	303,476
Valuation allowance		(196,402	)		(303,476	)
Deferred tax assets (liabilities)	$	—		$	—

A full valuation allowance has been provided because the Company has a history of losses as evidenced by its accumulated deficit. At December 31, 2021, and December 31, 2020, the Company had deductible temporary differences of $788,429 and $1,218,267, respectively.